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Bond Public

U.S. Treasury 4.25% Bond due Feb 15, 2054

CUSIP 912810TX6 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.87%
annualized · YTW equals YTM (non-callable)
Current yield i
4.69%
Coupon i
4.25%
Modified duration i
15.3 yr
Convexity i
336.82
Indicative price i
90.565
indicative model price — not a tradable quote
real auctioned at 93.249 · 4.67% high yield (Apr 11, 2024) · reopening — at issuance, not a current price
Settles i
Jun 24, 2026
priced to this date (T+1 basis)
Total to settle i
92.079
per 100 par (clean 90.565 + accrued 1.515) · ≈ $9,207.91 per $10,000 face
Next coupon i
Aug 15, 2026
2.125 per 100 · $212.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Apr 2024par 100 · Feb 205456 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i4.25% (semiannual)
Maturity iFeb 15, 2054
Issue dateApr 15, 2024
Par value i100.00
CallableNo
Amount outstanding i$48.8B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
90.565
Dirty price i
92.079
Accrued interest i
1.515
per 100 par
Yield to maturity i
4.87%
Yield to worst i
4.87%
Current yield i
4.69%
Modified duration i
15.3 yr
Macaulay duration i
15.7 yr
Convexity i
336.82
DV01 i
0.1408
per 100 par

indicative — matrix-priced off today's par curve.

Remaining cash flows

56 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20262.125 0.994752.114
Feb 15, 20272.125 0.974952.072
Aug 15, 20272.125 0.955682.031
Feb 15, 20282.125 0.935821.989
Aug 15, 20282.125 0.916251.947
Feb 15, 20292.125 0.897141.906
Aug 15, 20292.125 0.878671.867
Feb 15, 20302.125 0.860491.829
Aug 15, 20302.125 0.842931.791
Feb 15, 20312.125 0.825401.754
Aug 15, 20312.125 0.808171.717
Feb 15, 20322.125 0.790151.679
Aug 15, 20322.125 0.772471.642
Feb 15, 20332.125 0.754771.604
Aug 15, 20332.125 0.737621.567
Feb 15, 20342.125 0.720631.531
Aug 15, 20342.125 0.704121.496
Feb 15, 20352.125 0.687541.461
Aug 15, 20352.125 0.671441.427
Feb 15, 20362.125 0.655281.392
Aug 15, 20362.125 0.639471.359
Feb 15, 20372.125 0.623621.325
Aug 15, 20372.125 0.608231.292
Feb 15, 20382.125 0.592781.260
Aug 15, 20382.125 0.577791.228
Feb 15, 20392.125 0.562761.196
Aug 15, 20392.125 0.548181.165
Feb 15, 20402.125 0.533571.134
Aug 15, 20402.125 0.519321.104
Feb 15, 20412.125 0.505121.073
Aug 15, 20412.125 0.491351.044
Feb 15, 20422.125 0.477571.015
Aug 15, 20422.125 0.464220.986
Feb 15, 20432.125 0.450850.958
Aug 15, 20432.125 0.437900.931
Feb 15, 20442.125 0.424950.903
Aug 15, 20442.125 0.412340.876
Feb 15, 20452.125 0.399800.850
Aug 15, 20452.125 0.387670.824
Feb 15, 20462.125 0.375540.798
Aug 15, 20462.125 0.364750.775
Feb 15, 20472.125 0.356070.757
Aug 15, 20472.125 0.347740.739
Feb 15, 20482.125 0.339480.721
Aug 15, 20482.125 0.331500.704
Feb 15, 20492.125 0.323630.688
Aug 15, 20492.125 0.316070.672
Feb 15, 20502.125 0.308570.656
Aug 15, 20502.125 0.301370.640
Feb 15, 20512.125 0.294230.625
Aug 15, 20512.125 0.287370.611
Feb 15, 20522.125 0.280560.596
Aug 15, 20522.125 0.273990.582
Feb 15, 20532.125 0.267500.568
Aug 15, 20532.125 0.261280.555
Feb 15, 2054102.125 0.2551026.052
Sum of present values 92.079

Present values sum to the dirty price; subtract 1.515 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +37.31% 124.354
-100 bp (-1.0%) +16.97% 105.934
+100 bp (+1.0%) -13.6% 78.245
+200 bp (+2.0%) -23.84% 68.976

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (15.3 yr) and convexity. Real moves are rarely parallel; this is not a forecast.

What to know

Key risks

  • Interest-rate risk. If market yields rise, the price falls — and more so the longer the maturity. See the rate-sensitivity table above.
  • Inflation risk. Fixed coupons lose purchasing power if inflation rises. TIPS are designed to offset this; nominal bills, notes and bonds are not.
  • Reinvestment risk. Coupons, and principal at maturity, may have to be reinvested later at lower rates than today's.
  • Liquidity / price risk. Selling before maturity means taking the market price at that time, which can be above or below the indicative value shown here.

Tax

Interest on U.S. Treasuries is subject to federal income tax but is generally exempt from state and local income tax.

How Treasuries are bought

New issues are sold at auction (including directly via TreasuryDirect.gov); outstanding securities trade on the secondary market through a broker. This site is for research only and does not sell or recommend securities.

General information only — not tax, legal or investment advice.

Benchmark yield, past year

All tenors →
4.534.915.29Jan 2026Jun 2026

Par yield of the nearest benchmark tenor — the main input to this bond's price.